Hi Guys! I love your show!! I’m trying to meet the IRS’s requirement to be considered a Real Estate Professional. I have several long term rentals that I personally manage but spend way more time being a doctor. Also the majority of my income is from being a doctor.
My question is: Can I buy a large boat, keep it at my dock, and manage it myself as a short term Airbnb to meet the Real Estate Professional threshold? Can a boat be considered “Real Estate” for this section of the tax code? Would everything I buy for the boat also be a business write-off?
You guys Rock!! Thanks for you great education!
Sincerely,
Tim From Tampa